ICES Advisory 15 2019- Partially Crediting of Re-ex ort Bonds in ICES—M - Customs - TRADE NOTICE: 09/2019/CCP/JMR

OFFICE OF THE COMMISSIONER OF CUSTOMS (PREVENTIVE) 'SARDA HOUSE' BEDI BANDAR ROAD OPP. PANCHVATI, JAMNAGAR -361001 F. No. VIII/48-20/Sys/Single Window/15-16 DATED 19.07.2019 TRADE NOTICE: 09/2019/CCP/JMR Sub: ICES Advisory 15 2019- Partially Crediting of Re-exprot Bonds in ICES-M reg. Kind attention of Importers, Exporters, Customs Brokers and the trade is invited to processing of Re Export in ICES. Re-Export (RE) bonds are filed by the Importers/ Customs Brokers at the time of import of items meant for re-export after value addition. Currently. the bonds are credited and closed only after the entire imported goods have been used and exported as finished products. 2. At many places, confirmation of the exports is also insisted from banks manually and sometimes, the bonds and the corresponding bank guarantees remain outstanding even after the nominated banks forward the details. This may entail financial burden on the Importers, especially in case of gold imports for the manufacture and export of jewellery. Partial crediting of Bond and Bank Guarantee (BC) has, therefore, been a long pending demand of the Gems and Jewellery sector. 3. To enable the above, a new option by the name Partial Credit of RE Bond has been introduced in ICES. Board has also issued Circular 18/2019 Customs dated 05.07.2019 on the new provision. For this, a job is created in the concerned group by entering the RE Bond NO and the corresponding Bill of Entry details followed by the Shipping Bill details and the corresponding Bond and BG amounts to be re-credited. Once the job is submitted in ICES. the same would go to Dy/Asst Commissioner AC (Bonds) for approval in the ACB role. The officer can approve, reject or send back the job to the Bond officer. Once the job is approved, the Bond/ BG amounts will be credited accordingly. 4. Discrepancy, if any may be communicated to this office. (Authority: ICES Advisory 15/2019 - Partially Crediting of Re-export Bonds in ICES dated 08.07.2019) (M. K. Srivastava) COMMISSIONER, CUSTOMS (PREVENTIVE), JAMNAGAR